Business financing in Old North
Options, local help and what lenders look for in Old North, London. Apply once and we’ll match you with one financing partner.
Short answer
Businesses in Old North can use the same options as the rest of London: bank and credit union loans, the government-backed Canada Small Business Financing Program (up to $1.15 million), BDC loans and specialist lenders. Given what Old North is like, term loans and lines of credit come up often. The London Small Business Centre offers free advice to businesses across London.
Doing business in Old North
An older neighbourhood north of downtown, with large heritage homes on tree-lined streets.
Large older homes and mature trees make it one of London’s most sought-after areas. Many homes need updates, and buyers often plan renovations.
Financing for Old North businesses
Businesses in Old North draw on London’s wider economy, especially health care, manufacturing and education. A partner who works locally understands those patterns before your first conversation.
How NorthMerit can help
Apply once and we’ll connect you with one financing partner who works with businesses like yours. It’s free, and there’s no obligation.
Where Old North businesses get financing
| Option | How much | What you need | Good for |
|---|---|---|---|
| Bank or credit union loan | Varies with revenue and security | Usually 2+ years of statements, good credit, often a personal guarantee and collateral | Established, profitable businesses |
| Canada Small Business Financing Program | Up to $1.15M: $1M in term loans (up to $500K for equipment and leaseholds) plus a $150K line of credit | Revenue of $10M or less; arranged through your bank or credit union; 2% registration fee | Start-ups and businesses short on collateral |
| BDC small business loan | Up to $350K, applied for online | 24 months in business, profitable, credit score of 600+, revenue of $100K+ ($250K+ above $100K) | Working capital, growth, refinancing |
| Alternative and online lenders | Smaller amounts, fast decisions | Bank statements and revenue history; higher cost | Short-term needs when a bank says no |
| Equipment financing or leasing | Up to the full cost of the equipment | The equipment secures the loan; a quote or invoice | Machinery, vehicles, technology |
Free local help
- London Small Business Centre: training, guidance and programs including Starter Company Plus and Summer Company. Visit
- Starter Company Plus: Ontario grants of up to $5,000, plus training and mentoring, for people 18 and older starting or buying a business, delivered through local small business centres. You contribute at least 25% of the grant amount. Ontario
Sources
We checked these figures against official sources in October 2026. Rules and rates change, so confirm the details with your mortgage professional, lawyer or the source before you rely on them.
Common questions
What financing do businesses in Old North use most?
Where can I get free business advice near Old North?
Can a new business in Old North get a loan?
How does NorthMerit help Old North businesses?
More London neighbourhoods
The right financing, from the right partner.
Apply once. One financing partner who knows businesses like yours. Free, with no obligation.
